Miami gas price fall during last week but July 4th prices to be the highest ever recorded | News
While a lot of people are expected to hit the road – 33 percent of Americans – during next week’s July 4th weekend, they will be paying the highest ever for a gallon of gasoline, although it could have been worse.
While summer drivers will be spending the most money on gas ever, U.S. gas prices are expected to drop 10 to 20 cents by Independence Day. After months of increased prices, culminating in a $5 national average recorded for the first time just two-weeks ago, this drop will be a welcomed relief.
During the week that concluded Sunday, June 26, the average price of a gallon of gas in Miami fell $0.11.4 cents, according to GasBuddy’s survey of 1,690 stations in Miami.
Prices in Miami are 14.9 cents per gallon higher than a month ago and stand $1.80/g higher than a year ago.
The price of diesel has risen 2.6 cents nationally in the past week and stands at $5.80 per gallon.
GasBuddy reports the cheapest station in Miami was priced at $4.27 per gallon while the most expensive was $5.79/gallon.
Historical gasoline prices in Miami and the national average going back ten years:
- June 27, 2021: $2.94/gallon
- June 27, 2020: $2.02/gallon
- June 27, 2019: $2.54/gallon
- June 27, 2018: $2.77/gallon
- June 27, 2017: $2.26/gallon
- June 27, 2016: $2.38/gallon
- June 27, 2015: $2.78/gallon
- June 27, 2014: $3.66/gallon
- June 27, 2013: $3.54/gallon
- June 27, 2012: $3.34/gallon
As for that Summer Road Trip, GasBuddy’s annual summer travel survey shows that a large portion of Americans – 58% percent – are undeterred by the higher gas prices and are planning to take a road trip this summer.
And for the Independence Day weekend, 33 percent of those surveyed planned to travel specifically on during the holiday period.
And while many will drive this upcoming holiday weekend, 70 percent said they changed their summer road trip plans because of high gas prices.
But will the good news last?
Patrick De Haan, head of petroleum analysis at GasBuddy, said “While we may see relief as we approach July 4, and potentially after, the volatility in markets remains high. We still could see a super spike in gas prices later this summer, should a hurricane threaten Gulf Coast oil refineries or oil platforms. Motorists should know that while we may see small relief today, risks remain that prices could go up at a moment’s notice and set new records again.”
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